In a new report rating agency Fitch Ratings said that the global economy will probably ceased to decline, and in the second half of this year, slow recovery starts. However, this process will be sluggish, and unemployment will continue to grow throughout most of next year. In this regard, increasing the refinancing rate before the end of 2010, major central banks in the world are expected.

Creditworthiness large countries rated AAA (USA, UK, France, Germany) suffered the negative impact from the financial crisis and a serious global recession. However, despite the fact that Fitch does not expect the beginning of a substantial reduction in budget deficits until 2011, creditworthiness remains within the limits of the rated AAA, because of exceptional flexibility, balance, and financing due to the presence of reference borrowing and reserve currency.

Without cuts in government spending combined with tax increases are projected Fitch, public debt in the United States and Britain could reach 100% of GDP respectively in 2012 and 2013 years, while the public debt in France and Germany will exceed 90% of GDP by mid-next decade. While the possibility of financing of large deficits and debt remain very strong, and the burden of interest payments continued to be moderate on historical data, public finances will be much more vulnerable to adverse shocks, and countries will be less able to hold protivotsiklicheskuyu monetary policy (which is one of the key characteristics of the top AAA).

For countries with developing economies, they continue to receive blows from the global crisis. The main risk to the ratings of these countries is still in sharp decline in capital inflows to the private sector, including foreign bank lending, which continues to exert pressure on the balance of payments and financial stability, particularly in Central and Eastern Europe. In addition, a very weak global economic environment, as well as reducing the availability and higher cost of funding put pressure on the creditworthiness of non-sovereign issuers. Thus, approximately one-third of firms and banks in emerging markets, Fitch reytinguemyh on an international scale (about 700 in the world), now have a negative outlook on the ratings or the ratings are under surveillance in the list Rating Watch Negative. Only 2% were positive outlook.
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Recommendations on the stock market: LUKOIL, MMC Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
FINAM was the recommendation of shares of bank St.-Petersburg
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